Regent Street marks the most prestigious Supergroup store to date.
It isn’t only Cheltenham-based SuperGroup that is celebrating its recent acquisition of 103 Regent Street, home to Austin Reed for over 100 years. SuperGroup’s lawyers, BPE Solicitors, have worked with the highly successful fashion retailer for over 10 years and this latest acquisition will be the most prestigious.
Antonia Shield, head of BPE's property department, was instructed by SuperGroup to negotiate and exchange on the acquisition of Austin Reed's store on London’s Regent Street with a view to it becoming the Group's flagship store in London.
Acquiring such an iconic store on such a historic site owned by the Crown Estate presented several issues for Antonia and her team, not least those of confidentiality and working to a very tight deadline.
SuperGroup said: 'The speed at which Antonia and her team worked during this process was a key factor in helping us to conclude the deal so quickly - they understand our needs and requirements totally and can negotiate confidently on what is best for SuperGroup. We will now make the Regent Street store the flagship it deserves to be.'
Commenting on the recent excitement over the deal, Antonia said: 'The acquisition of a flagship store in London has been on the agenda for some time, but I never dreamt it would be on such a prestigious and well known site.
‘The decision to make this investment is a reflection of the general shift in the high street and acknowledges the impact and growing importance of the retail experience to coax consumers away from the comfort of their sofa and computer. I have no doubt that as a retail destination the experience in and around the new store will be fabulous.’
She added: ‘It is no coincidence that Regent Street is reinventing itself with the arrival of Hollister, the expansion of Burberry and the creation of a unique environment that reflects and enhances each brand's global presence - this is the evolution of retail on the high street. The plans for SuperGroup's new store are developing apace and I am very proud that the BPE property team continues to be part of such a success story.'
Antonia continues to act for SuperGroup Plc in a legal capacity after nearly 10 years spent managing the expansion of its property portfolio. She and her team have helped to take the Group from approximately 10 stores to around 61 stores at current count - a figure set to grow further by the end of 2011.
BPE were also involved in the due diligence undertaken during the flotation of SuperGroup to PLC status.